| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 52.40 Million |
| Market Size (2030) | USD 68.16 Million |
| CAGR (2025 - 2030) | 5.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Medical Devices Market Analysis
The India Medical Devices Market size is estimated at USD 52.40 million in 2025, and is expected to reach USD 68.16 million by 2030, at a CAGR of 5.40% during the forecast period (2025-2030).
Various factors, such as the rising prevalence of chronic diseases, technological advancements in medical devices, and improvements in healthcare infrastructure, contribute to the growth of the medical devices market.
The growing prevalence of chronic diseases increases the demand for medical devices and further boosts market growth. For instance, a meta-analysis study published in the Reviews on Environmental Health Journal in November 2023 mentioned that chronic obstructive pulmonary disease (COPD) prevalence ranged from 1.6% to 26.6% among non-smokers in India. Moreover, according to an article published by the Kidwai Memorial Institute of Oncology, Bengaluru mentioned that over 1.39 million new cancer cases are diagnosed annually in India. Additionally, the same source mentioned that the most common cancers in men in India are lung, oral cavity, stomach, colorectal, and esophageal cancers. In women, the most common cancers are breast, cervical, ovarian, and oral cancers. Thus, the high prevalence of respiratory infections such as chronic obstructive pulmonary disease (COPD) and cancer will lead to increased utilization of medical devices, which can result in increased market growth over the forecast period.
Moreover, government initiatives to increase funding are anticipated to promote the studied market growth. For instance, in November 2024, the Indian medical device sector welcomed a USD 58.4 million government scheme to strengthen domestic production and reduce imports. Funding will support component manufacturing, shared infrastructure development, and clinical studies, with the long-term vision of making India a global leader in medical technology. Thus, with the increasing funding from the government, the medical device sector is expected to grow in India.
Additionally, the companies focus on introducing new technological advancements and medical innovations to promote market growth. For instance, in November 2024, Abbott launched its AVEIR VR single-chamber ventricular leadless pacemaker in India, following approval from the Central Drugs Standard Control Organization (CDSCO). This device is intended for treating patients with slow heart rhythms. Additionally, in August 2023, Smith and Nephew introduced the OR3O Dual Mobility System for primary and revision hip arthroplasty in India. Dual mobility implants have a minor diameter femoral head that locks into a larger polyethylene insert, which improves stability and movement and minimizes dislocation risk. Thus, the introduction of such innovative medical devices will increase their adoption and significantly contribute to market growth.
Hence, the increase in the prevalence of chronic diseases, government initiatives, technological advancements, and improved healthcare infrastructure are the major factors driving the market growth. However, stringent regulatory policies, uncertainty in reimbursement, and high cost of medical devices may affect the market growth of medical devices in India over the forecast period.
India Medical Devices Market Trends
Cardiology Segment is Expected to Hold a Major Share in the Medical Device Market Over the Forecast Period.
The cardiology segment holds a significant share of the medical devices market in India due to the increasing prevalence of cardiovascular disorders, key initiatives by market players, and technological advancements in cardiology devices. Cardiovascular disorders are diagnosed with cardiology devices and can be divided into three areas of use: surgical, therapeutic, and diagnostic. The most commonly used cardiology devices are electrocardiograms (ECGs), defibrillators, pacemakers, cardiac rhythm management devices, catheters, grafts, heart valves, and stents.
The increasing prevalence of cardiovascular disorders is contributing to the market's segment growth. For instance, a study published in the National Medical Journal of India in February 2024 reported that the prevalence of heart failure (HF) ranges from 1.3 million to 22.7 million, with an annual incidence of 0.5 to 1.8 million cases in India. Thus, the high burden of heart failure is a major driving factor for market growth.
The development of new cardiology care units by the hospitals is anticipated to boost the demand for medical devices for heart disease treatment, thereby driving the segment growth. For instance, in November 2024, Ninti Hospital in Saharsa opened an advanced cardiology care unit, which signified a major advancement in delivering state-of-the-art cardiac care to patients throughout the Kosi region in India. Thus, such developments are expected to fuel the needs for medical devices, and boost the segment growth.
Market players focus on critical initiatives for developing technologically advanced cardiology devices and launching the products. For instance, in May 2024, OMRON Healthcare India collaborated with AliveCor India, this collaboration allows OMRON Healthcare India to expand its offerings beyond blood pressure monitors to include artificial intelligence (AI)-powered handheld Electrocardiogram (ECG) devices. These devices can quickly detect various heart rhythm irregularities, such as atrial fibrillation (Afib), bradycardia, and tachycardia, according to the company. Additionally, in March 2024, Stryker unveiled two new products: the LIFEPAK CR2 automated external defibrillator (AED) for cardiac care, and the Evacuation Chair for emergency patient evacuation at the criticare national conference (2024) in Kolkata, India. The LIFEPAK CR2 is an innovative defibrillator aimed at enabling rescuers to deliver effective cardiopulmonary resuscitation (CPR) and immediate shocks during sudden cardiac arrest (SCA). Thus, such initiatives like product launches and parterships by the market players are expected to promote the cardiology segment in India.
Thus, with factors such as the rising increase in cardiovascular disorders, rising healthcare infrastrcuture and technological advancements in cardiology devices, the market segment is expected to grow over the forecast period.
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Hospital Segment is Expected to Hold a Major Share in the Medical Device Market Over the Forecast Period.
Hospital Segment is expected to hold the major market share due to the increasing number of multispecialty and community hospitals across India. Hospitals utilize medical devices to diagnose and treat various chronic diseases and thus will use medical devices.
The increasing investments by the hospitals are anticipated to fuel the demand for medical devices in the country. For instance, in November 2024, Medanta Hospitals' parent company, Global Health, set to expand its presence in New Delhi with a new 750-bed super-specialty hospital in Pitampura. This expansion was supported by a USD 70.1 million investment to handle the installation of all internal infrastructure, including electrical, plumbing, furniture, and advanced medical equipment. Thus, such initiatives to improve the healthcare infrastructure in India will further boost the market growth.
Hospitals incorporate the latest medical devices to improve patients' diagnosis and treatment processes. For instance, in November 2024, As part of its Corporate Social Responsibility (CSR) program for the financial year 2023-24, HUDCO provided a portable handheld X-ray machine, valued at USD 27,480.7 to the regional hospital in Chamba, India. Additionally, in December 2023, FUJIFILM India and GVN Hospital collaborated to launch the Endo Bus, a mobile endoscopy unit designed to revolutionize the early detection of gastrointestinal (GI) cancer throughout India. This initiative will provide free GI cancer screenings for economically disadvantaged individuals in smaller cities and underserved areas in India. This will lead to increase the demands for endoscopy devices.
Thus, with the increasing needs of hospitals and the implementation of medical devices to meet the needs of patients, the hospital segment is expected to witness growth over the forecast period.
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India Medical Devices Industry Overview
The Medical Devices Market in India is fragmented because of the high competitiveness in the market contributed by large and mid-sized companies. Major market players are leading the market with new product launches, advanced technology, collaboration, and acquisitions for business expansion. Some of the key players in the market are Abbott Laboratories, Boston Scientific Corporation, F. Hoffmann La-Roche Ltd., GE Healthcare, and Johnson & Johnson, among others.
India Medical Devices Market Leaders
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Abbott Laboratories
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Boston Scientific Corporation
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F. Hoffmann La-Roche Ltd.
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GE Healthcare
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Johnson & Johnson
- *Disclaimer: Major Players sorted in no particular order
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India Medical Devices Market News
- May 2024: Apollo Hospitals in Indore launched the CORI Surgery System, a next-generation robotic platform for joint replacement procedures. The CORI system is a compact and portable device, making it well-suited for modern operating rooms with limited space.
- February 2024: Getinge introduced its advanced Servo-c mechanical ventilator to the Indian market. This innovative ventilator was designed to meet the varied respiratory requirements of both children and adults, incorporating lung-protective features. This launch represented a considerable advancement in making sophisticated and cost-effective healthcare solutions available to hospitals throughout India.
India Medical Devices Industry Segmentation
According to the Scope, a medical device is a type of instrument, apparatus, appliance, machine, or implant used to diagnose, treat, monitor, or prevent diseases. The medical devices market in India is segmented by type of device and end-users. By type of device, the market is segmented into
respiratory devices, cardiology devices, orthopaedic devices, diagnostic imaging devices, endoscopy devices, ophthalmology devices, and other type of devices. Other type of devices include life support devices and dental devices, among others. By end-users, the market is segmented into hospitals, diagnostic centres, and other end users. Other end-users include clinics and ambulatory centres and home healthcare settings, among others. For each segment, the market size is provided in terms of USD value.
| By Type of Device | Respiratory Devices |
| Cardiology Devices | |
| Orthopedic Devices | |
| Diagnostic Imaging Devices (Radiology Devices) | |
| Endoscopy Devices | |
| Ophthalmology Devices | |
| Other Type of Devices | |
| By End-User | Hospitals |
| Diagnostic Centers | |
| Other End-Users |
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India Medical Devices Market Research FAQs
How big is the India Medical Devices Market?
The India Medical Devices Market size is expected to reach USD 52.40 million in 2025 and grow at a CAGR of 5.40% to reach USD 68.16 million by 2030.
What is the current India Medical Devices Market size?
In 2025, the India Medical Devices Market size is expected to reach USD 52.40 million.
Who are the key players in India Medical Devices Market?
Abbott Laboratories, Boston Scientific Corporation, F. Hoffmann La-Roche Ltd., GE Healthcare and Johnson & Johnson are the major companies operating in the India Medical Devices Market.
What years does this India Medical Devices Market cover, and what was the market size in 2024?
In 2024, the India Medical Devices Market size was estimated at USD 49.57 million. The report covers the India Medical Devices Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Medical Devices Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
India Medical Devices Industry Report
Statistics for the 2025 India Medical Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Medical Devices analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
